0^385.1 


STEPHEN  B.  WEEKS 

CUSS  OF  18S6;  PRD.  THE  JOHNS  HOPKINS  UNIVERSITY 


OF  THE 

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TIE  WEEKS  COLLECTION 

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ACT  OF   INCORPORATION 


PROSPECtUS 


Raleigh  and  Eastern  North  Carolina 
Railroad  Company* 


AN  ACT  TO  INCORPORATE 

THE 

Raleigh  and  Eastern  North  Carolina 
Railroad  Company* 


The  General  Assembly  of  North  Carolina  do  enact: 

Section  1.  That  J.  J.  Thomas,  C.  B.  Barbee,  J.  M.  Turner,  their  incorporators, 
associates,  successors  and  assigns,  are  hereby  created  a  body  politic 
and  corporate,  with  perpetual  succession,  under  the  name  and  style 
of  "The  Raleigh  and  Eastern  North  Carolina  Railroad  Company,"  Corporate  name, 
and  under  that  name  may   sue  and  be   sued   in   any  court   of  the 
State  of  North  Carolina  or  elsewhere;  may  have  and  use  a  common  Powers  and 
seal;  may  acquire  by  purchase,  gift,  devise,  lease  or  otherwise  any  Pnvileses. 
real,  personal   or  mixed  estate  and  lease  or   sell  the  same   as  the 
interest  of  the  company  may  require;  may  acquire,  own,  operate  or 
lease  any  quarries,  mines,  forests,  lumber  yards  or  furnaces,   also 
steam-ships,  docks,  wharves,  lighters,  barges,  tugs,  steam-boats  and 
vessels;   may  lease,  buy  or  construct  telegraph  and  telephone  lines 
along  or  near  its  right  of  way  and  charge  tolls  under  such  rules 
and  regulations  as  are  prescribed  by  the  laws  of  this  State,  or  at 
the  option  of  its  board  of  directors;  may  lease  or  rent  these  privi- 
leges to  other  corporate  bodies  or  persons;  may  build  branch  roads  Powers  and 

privileges, 
not  extending  more  than  fifty  miles  each  from  any  point  on  its  main 

line;  may  change  the  name  of  said  company  by  a  vote  of  a  majority 
of  its  stockholders  at  a  regular  or  special  meeting,  and  may  make 
all  such  by-laws  for  the  government  of  said  company  as  may  be 
deemed  proper  and  are  not  inconsistent  with  law. 

Sec.  2.  That  the  authorized  capital  stock  of  said  company  shall  Capital  stock, 
be  one  hundred  and  twenty-five  thousand  dollars,  with  the  privilege 
of  increasing  the   same  to   one  million  dollars,  to  be  divided  into 
shares  of  one  hundred  dollars  each.     That  said  capital  stock  may  be  Shares, 
subscribed  for  and  paid  in  money,   lands,  mines,  mineral  property,  &°™  subscribed 


Subscription 
books. 


When  to  commence 
business. 


First  meeting, 
notice  of. 


Directors. 

Tenure. 

Officers. 

Vacancies. 


President  and 
directors  to  handle 
subscription  books. 


Non-liability  of 
stockholders. 


Propose  route  or 
line  of  operation. 


Raleigh,  Wake 
county,  east  to. 


Pamlico  river. 


Main  line  and 
branch  road. 


Vol.  I,  chap.  49 
Code. 


materials,  bonds,  timber,  labor,  depot  or  terminal  facilities,  fran- 
chises, rights  of  way,  watercraft  or  otherwise  as  may  be  agreed 
upon  between  the  subscriber  or  subscribers  and  the  said  company. 

Sec.  3.  That  books  of  subscription  to  the  capital  stock  of  said 
company  shall  be  opened  by  the  corporators,  or  a  majority  of  them 
acting  in  person  or  by  proxy,  at  such  times  and  places  and  under 
such  rules  and  regulations  as  they  may  prescribe.  That  as  soon 
as  ten  thousand  dollars  has  been  subscribed  for  bona  fide  to  the 
capital  stock  the  said  company  shall  be  authorized  to  commence 
operations  and  to  exercise  all  the  rights,  powers,  privileges  and 
franchises  granted  by  this  act,  and  said  corporators,  or  a  majority 
of  them  acting  in  person  or  by  proxy,  shall  be  authorized  to  call 
a  meeting  of  stockholders  for  the  purpose  of  organization  at  such 
place  or  places  as  they  may  deem  advisable,  giving  ten  days'  notice 
thereof  in  some  newspaper  published  in  Raleigh,  and  at  such  meet- 
ing and  at  each  annual  meeting  thereafter  a  board  of  not  less  than 
seven  directors  shall  be  elected  by  the  stockholders.  That  said 
board  of  directors  shall  hold  office  for  one  year,  and  until  their 
successors  are  elected,  and  shall  appoint  a  president,  vice-president 
and  such  other  officers,  agents  and  employees  as  they  may  deem 
proper  and  fix  their  duties,  and  may  fill  any  vacancy  occurring  in 
the  office  of  director,  president,  vice-president  or  other  officer. 

Sec.  4.  That  after  the  organization  of  said  company  the  president 
and  board  of  directors  may  again  from  time  to  time  open  books  of 
subscription  to  the  capital  stock  of  said  company  at  such  times 
and  places  and  under  such  rules  and  regulations  as  they  may  pre- 
scribe. No  stockholder  shall  be  responsible  for  any  amount  greater 
than  his  unpaid  subscription. 

Sec.  5.  That  said  company  shall  have  the  power  to  locate,  con- 
struct, equip,  maintain  and  operate  a  railroad  for  the  transporta- 
tion of  freight,  passengers,  mail  and  express,  from  Raleigh,  Wake 
County,  and  thence  in  an  easterly  direction  through  Wilson  County, 
running  to  or  near  the  town  of  Wilson,  thence  through  Pitt  County, 
running  to  or  near  the  town  of  Greenville,  thence  on  the  south  side 
of  Tar  River  to  some  point  on,  near,  across  river  in  Pitt  or  Beau- 
fort Counties  above  or  near  the  town  of  Washington,  thence  to  or 
near  the  town  of  Washington  or  to  some  point  in  an  easterly  direc- 
tion to  tide-water  in  the  eastern  part  of  North  Carolina,  on  or 
near  the  Pamlico  River  or  Sound,  as  shall  be  determined  by  said 
board  of  directors,  and  to  build  branch  roads  as  above  provided. 

Sec.  6.  That  said  company  may  build  its  said  railroad  and  branch 
roads  as  may  be  deemed  most  advantageous  and  expedient,  and  it 
shall  have  all  the  powers  and  privileges  contained  in  Volume  I,  chap- 
ter 49  of  The  Code  of  North  Carolina  and  all  of  the  acts  of  the 
General  Assembly  of  North  Carolina  amendatory  thereto. 


Sec.  7.  That  said  company  shall  have  the  right  to  cross  at  grade,  Right  to  cross, 
or  over,  or  under,  intersect,  join  or  unite  its  railroad  with  any  rail-  wrtTother^roads3 
road  now  built  or  constructed,  or  which  may  be  hereafter  built  or 
constructed  within  the  State  of  North  Carolina,  at  any  point  of 
its  main  line  or  branches,  with  the  necessary  turn-outs,  sidings, 
switches  and  other  conveniences,  and  when  necessary  to  use  the  right 
of  way  of  other  roads  when  the  same  is  not  occupied  with  tracks 
or  buildings. 

Sec.   8.  That   when   any   right   of   way   may   be   required   by   the  Right  of  way. 
company  for  the  purpose  of  constructing  its  railroad  and  branches, 
and  for  want  of  agreement  for  any  cause  it  cannot  be  purchased  from 
the  owner,  the  same  may  be  condemned,  in  accordance  with  Volume 
I,  chapter  49  of  The  Code  of  North  Carolina  and  all  the  acts  of  the  Eminent  domain. 
General   Assembly   of   North    Carolina    amendatory   thereof,    to   the 
extent  of  fifty  feet  on  each  side  of  the  track  of  the  said  railroad  and  100  feet, 
branches,  measuring  from  the  centre   of  the   same.     And  the   com- 
pany shall  have  the  power  to  appropriate  and  condemn  land  in  like 
manner  for  the  building  and  erection  thereon  of  depots,  warehouses,  Depots,  ware- 
shops  and  houses  for   servants,  employees  and  other  purposes,  not 
exceeding  five  acres  in  any  one  lot  or  place. 

Sec.  9.  That  said  company  shall  have  the  right  to  borrow  money  Right  to  borrow 
when  so  authorized  by  its  board  of  directors  in  general  or  special 
meeting  assembled,  and  to  issue  coupon  bonds  at  a  rate  of  interest 
not  exceeding  five  per  cent.,  and  to  secure  the  payment  of  the  same  How  secured, 
by  mortgage  or  deed  of  trust,   or  trust  agreement  with   any  bank, 
trust  company  or  corporation  on  its  property,  franchises  and  effects 
or    otherwise.     And    should    said    company    issue    second    mortgage  Second  mortgage, 
bonds  as  hereinafter  provided,  then  in  that  event  it  shall  not  issue 
first   mortgage   bonds   exceeding   twelve   thousand   dollars   per   mile 
of  its  main  road  and  branches. 

Sec.  10.  That  the  said  company  may  begin  work  upon  any  point  When  to  begin 
of  its  line,  and  upon  the  construction  of  any  part  or  portion  thereof 
may  operate  and  maintain  such  part  or  portion  with  all  the  rights, 
powers   and   privileges   hereby   granted   to   this    company.     That    it  May  purchase  or 
may,   under  purchase,  lease,   agreement  or   running  arrangement   as  roads. 
it  can  make  with  any  other  railroad  company,  operate  any  railroad 
as  a  link  between  different  portions  of  its  own  line. 

Sec.    11.  It   shall   be   compulsory   with   the   Raleigh   and   Eastern  R.  &  E.  N.  C.  R.  R. 
North    Carolina    Railroad    Company    and    all    other    railroads    with  roa(js. 
which  it  connects  to  interchange  traffic  in  a  prompt  manner,  to  pro-  Interchange  of 
rate   on   a   mileage   basis    unless   by   mutual    arrangement   with   the 
managers  of  railroads  in  North  Carolina,  to  make  the  divisions  of 
rates   otherwise   on   all   business   originating   at   or   destined   within 
the  borders  of  the  State,  and  routing  orders   of  consignees  by   all 
transportation   lines   shall   be   respected.     That   all    railroad   compa-  Rate  for  switching 
nies   shall   switch   cars  to   and   from   industries,   loading   or   unload- 


Empty  cars  free. 


Coupon  construc- 
tion bonds. 


Style  of. 
Security. 


Counties,  cities 
and  towns  may 
subscribe  to  second 
mortgage  bonds. 

Election  to  be  held. 


Style  and  nature 
of  bonds. 


Denomination  of 
shares. 


Duty  of  county 
commissioners  or 
municipal  authori- 
ties. 


Upon  application 
of  fifty  tax  payer 
in  the  county  or 
thirty  in  the  towns 
to  submit  question 
to  voters. 


ing  tracks,  warehouses  and  other  places  for  handling  freight  for 
each  other  within  any  city  limits  or  three  miles  from  same,  for 
not  more  than  two  dollars  per  loaded  car.  Empty  cars  shall  be 
handled  free,  and  that  no  railroad  company  shall  make  a  higher 
switching  charge  for  one  railroad  than  it  does  for  another. 

Sec.  12.  That  for  the  purpose  of  aiding  in  the  construction  of 
the  Raleigh  and  Eastern  North  Carolina  Railroad  Company  the 
board  of  directors  of  said  company  shall  have  the  power  in  general 
or  special  meeting  to  issue  coupon  bonds  to  an  amount  not  exceed- 
ing three  thousand  dollars  per  mile  upon  the  said  railroad  and  its 
branch  roads,  bearing  interest  at  the  rate  of  six  per  cent.,  payable 
semi-annually,  the  principal  of  said  bonds  to  be  made  payable  thirty 
years  from  the  date  of  issue,  and  to  secure  the  payment  of  said 
bonds  and  interest  by  a  second  mortgage  or  deed  of  trust  on  its 
property,  franchises  and  effects  or  otherwise.  That  it  shall  be 
lawful  for  any  county,  township,  city  or  town  in  or  through  which 
the  said  road  or  its  branches  may  be  located  or  which  may  be  inter- 
ested in  its  construction,  to  subscribe  to  the  said  second  mortgage 
bonds  of  said  railroad  company  in  such  sums  as  a  majority  of  the 
qualified  electors  of  any  such  county,  township,  city  or  town  may 
authorize,  anything  contained  in  the  charter  of  any  such  city,  town 
or  other  corporation  to  the  contrary  notwithstanding.  That  the 
said  subscription  shall  be  made  in  coupon  bonds  bearing  interest 
at  five  per  cent.,  interest  payable  semi-annually,  and  the  principal 
of  said  bonds  to  be  due  and  payable  thirty  years  from  time  of  issue, 
the  said  bonds  to  be  received  by  said  railroad  company  at  par, 
and  upon  receiving  the  same  the  said  railroad  company  shall  de- 
liver to  such  counties,  townships,  cities  or  towns  as  shall  subscribe 
a  like  amount  of  its  second  mortgage  bonds  in  exchange  therefor. 
All  of  said  bonds  to  be  in  denominations  of  one  hundred  dollars 
each. 

Sec.  13.  That  for  the  purpose  of  determining  the  amount  of  such 
subscription  it  shall  be  the  duty  of  the  County  Commissioners  of 
any  county  in  which  the  said  railroad  has  the  right  under  this 
charter  to  construct  its  road  or  branches,  or  which  may  be  inter- 
ested in  the  construction  of  said  road  or  branches,  or  the  Board 
of  Aldermen,  or  the  Board  of  Commissioners  or  other  municipal 
authorities  of  any  city  or  town  in  or  through  any  part  of  such 
city  or  town  the  said  railroad  has  the  right  under  this  charter  to 
construct  its  road  or  branches,  or  which  may  be  interested  in  the 
construction  of  said  road  or  branches,  upon  the  written  applica- 
tion of  fifty  tax  payers  of  any  such  county,  or  thirty  in  any  town- 
ship, city  or  town,  specifying  therein  the  amount  to  be  subscribed 
in  bonds,  to  submit  to  the  qualified  electors  of  such  county,  town- 
ship, city  or  town,  as  the  case  may  be,  the  question  of  "Subscrip- 
tion"  or  "No  Subscription"  to  the  second  mortgage  bonds  of   said 


railroad  company.     And  said  Board  of  County  Commissioners,  Board 
of  Aldermen,  Board  of  Commissioners  or  other  municipal  authority 
of  such  city  or  town,   as  the  case  may  be,   shall   order  an  election,  Election,  how  and 
specifying   the   time,   place   and   purpose   of   the   election,    and   shall 
provide   for   the   holding   of   the   same   as    is   now   provided   for   the 
holding  of  elections  for  members  of  the  General  Assembly,  except 
as  is  hereinafter  provided  for  the  said  election  in  any  city  or  town. 
That  at  said  election  ballots  shall  be  provided  upon  which  shall  be 
printed  or  written  the  word  "Subscription,"  and  also  ballots   shall  Ballots. 
be  provided  upon  which  shall  be  printed  or  written  the  words  '"No 
Subscription,''  and  said  Board  of  County  Commissioners,  Board  of 
Aldermen  or  Board  of  Commissioners  or  other  municipal  authorities 
of  such  city  or  town,  having  first  fixed  the  amount  proposed  to  be  sub- 
scribed according  to  the  request  of  the  petition  submitted  to  them, 
shall  give  public  notice  of  said  election,  not  exceeding  sixty  days  im-  Notice  of  election, 
mediately  prior  thereto,  in  one  or  more  newspapers  published  in  the  Where  and  how 
county  in  which  such  election  is  to  be  held,  and  if  there  be  no  news- 
paper published  in  such  county,  then  in  some  newspaper  published 
in  the  county  nearest  thereto,  and  also  at  the  court-house  door  of 
such  county,  that  such  an  election  will  be  held  upon  the  day  therein 
named.     That  a  new  registration  may  be  ordered  in  accordance  with  Registration. 
law  by  such  Board  of  County  Commissioners,  Board  of  Aldermen, 
Board  of  Commissioners  or  other  municipal  authority,  as  the  case 
may  be,   of  the  qualified  voters   of   said   county,   township,   city   or 
town  for  the  said  election. 

Sec.   14.  That  all  elections   under  the  preceding  section   shall   be  How  held,  if 
held,  if  for  a  county  or  township,  according  to  the  law  and  regu-  g^^ 
lations  provided  for  the  election  of  members  of  the  General  Assembly, 
and  if  the  election  shall  be  held  for  a  county,  the  returns  shall  be 
made   to   and   canvassed   by   the   Board    of    County    Commissioners, 
who  shall  ascertain  and  declare  the  result  and  make  a  record  of  the  Result,  how 
same.     If  the  election   shall  be   for   a   township,   the   registrar   and 
judges  of  election  shall  make  returns  to  the  Board  of  County  Com- 
missioners, who  shall  canvass  the  same  and  ascertain  and  declare 
the  result  and  make  a  record  of  the  same.     If  the  election  shall  be  How  held,  if  by 
for  a  city  or  town,  it  shall  be  conducted  as  elections  for  municipal  cltyortown' 
officers  and  the  Mayor   and  Aldermen,   or   Town  Commissioners   or 
other   municipal   authorities   of   such   city   or   town   shall    ascertain 
and  declare  the   result   and  make   a    record   of   the   same.     That   in 
case  a   majority   of   all   the   qualified  voters   in   such   county,   town- 
ship, city  or  town,  as  the  case  may  be,  shall  have  voted  "For  Sub- 
scription," then  the  Chairman  of  the  Board  of  County  Commission-  Duty  of  commis- 
ers  in  all  cases  of  county  or  township  elections,  and  the  Mayor  or  nic"Pai  authorities 

other  chief  officer  in  all  cases  of  city  or  town  elections  shall,  within  if  election  favor- 

J  '  able  to  subscrip- 

twenty  days  after  the  vote  is  ascertained,  subscribe  to  the  second  tion. 

mortgage  bonds  of  said  railroad  company  in  behalf  of  said  county. 


6 


Coupon  bonds,  five 
per  cent,  tax  levy 
to  pay  bonds. 


Payment  of  inter- 
est and  redemp- 
tion of  bonds, 
how  met. 


Sinking  fund. 


Bonds,  how 
cancelled. 


Investment  of 
sinking  fund. 


Townships 
incorporated. 


Purpose  of. 


Commissioners 
agents  of  town- 
ships. 


Convicts  may  be 
used  in  construc- 
tion work. 


Payment  for  labor. 


township,  city  or  town,  as  the  case  may  be,  the  sum  that  may  have 
been  named  in  the  said  petition,  which  subscription  shall  be  made 
in  coupon  bonds  bearing  interest  at  the  rate  of  five  per  cent.,  payable 
semi-annually,  and  all  tax  levies  for  the  purpose  of  raising  funds 
to  pay  said  bonds  or  coupons  shall  be  made  upon  the  taxable  prop- 
erty in  such  counties,  townships,  cities  or  towns. 

Sec.  15.  That  to  provide  for  the  interest  on  said  bonds  and  their 
redemption  at  or  before  maturity  the  Board  of  County  Commis- 
sioners aforesaid,  or  the  Board  of  Aldermen,  or  Board  of  Commis- 
sioners, or  other  municipal  authorities  aforesaid  subscribing  shall, 
in  addition  to  other  taxes,  each  year  compute  and  levy  on  all 
property  of  any  such  county,  township,  city  or  town  as  may  make 
a  subscription  of  bonds  to  the  said  second  mortgage  bonds,  pre- 
serving the  constitutional  equation  of  taxation,  a  sufficient  tax  to 
pay  such  interest  and  an  additional  tax  sufficient  to  provide  each 
year  a  sum  equal  to  one-thirtieth  part  of  the  principal  of  said 
bonds  for  a  sinking  fund,  which  amount  shall  annually  be  collected 
as  the  other  taxes  are  and  paid  to  the  County  Treasurer  or  other 
officer  of  said  county,  city  or  town  authorized  by  law  to  perform 
the  duties  of  Treasurer  as  commissioner  of  sinking  fund,  and  by  him 
invested  in  said  bonds,  which  shall  be  cancelled  by  the  County 
Commissioners  or  the  municipal  authorities  of  the  city  or  town,  as 
the  case  may  be,  but  in  case  said  Treasurer  or  other  officer  shall 
be  unable  to  invest  the  sinking  fund  herein  provided  for  in  said 
bonds  at  or  about  par  value  he  shan  invest  the  same  in  solvent 
bonds  or  securities  as  may  be  selected  and  approved  by  the  County 
Commissioners  aforesaid  or  the  proper  authorities  of  any  city  or 
town,  as  the  case  may  be,  subscribing  to  the  second  mortgage  bonds 
of  said  railroad  company. 

Sec.  16.  That  for  the  purpose  of  this  act  all  the  townships  along 
the  line  of  said  railroad  and  its  branches,  or  which  are  interested 
in  its  construction,  are  hereby  declared  bodies  politic  and  corporpate 
and  are  vested  with  the  necessary  powers  to  carry  out  the  pro- 
visions of  this  act,  and  shall  have  all  the  rights  and  be  subject  to 
the  liabilities  in  respect  to  any  right  or  cause  of  action  growing 
out  of  the  provisions  of  this  act.  The  County  Commissioners  of  the 
respective  counties  in  which  are  situated  the  respective  townships 
subscribing  are  declared  to  be  the  corporate  agents  of  the  townships 
so  incorporated  and  situated  within  the  limits  of  the  said  counties 
respectively. 

Sec.  17.  That  the  State,  county  and  city  convicts  may  be  used  in 
the  construction  of  the  said  railroad  and  its  branches  in  such  num- 
bers and  at  such  times  as  may  be  agreed  upon  by  the  proper  au- 
thorities in  charge  of  said  convicts  and  by  said  railroad  company. 
The  payment  for  such  labor  shall  be  made  monthly. 


Sec.  IS.  The  Raleigh  and  Eastern  North  Carolina  Railroad  Cora-  Said  incorporated 
pany  shall  not  be  sold,  leased,  merged  or  transferred  to  any  other  sold  or  leased  to 
corporation  that  is   now  or  may  be   hereafter  constructed,   that   is  comPeting  line, 
now  or  hereafter  may  be  a  competitor,  during  the  period  that  the 
State  or  any  county,  township,  city  or  town  shall  hold  seventy-five 
per  cent,  of  the  second  mortgage  bonds  of  said  railroad  company. 
Only  a  sufficient  amount  of  the  said  six  per  cent,  second  [mortgage]  Six  per  cent. 

1  L  &      &      J      bondgj    amount    tQ 

bonds  shall  be  issued  in  the  construction,  purchasing  and  equipment  issue. 
in  exchange  with  the  State  of  North  Carolina,  the  various  counties, 
townships,    cities    and   towns    for    labor    performed,    or   bonds    sub- 
scribed for,  not  to  exceed  three  thousand  dollars  per  mile  of  said 
railroad  and  its  branches. 

Sec.  19.  That  the  construction  of  the  said  railroad  under  this  act  Construction,  when 
of   incorporation   shall   be   commenced   within   five   years    after   the 
ratification  of  this  act. 

Sec.  20.  This  act  shall  take  effect  and  be  in  force  from  and  after 
its  ratification. 

In  the  General  Assembly  read  three  times  and  ratified  this  the 
18th  day  of  February,  A.  D.  1903. 

W.   D.   TURNER, 
President  of  the  Senate. 
S.  M.  GATTIS, 
Speaker  of  the  House  of  Representatives. 

Examined  and  found  correct: 

Ray,  for  Committee. 


State  of  North  Carolina, 
Office  of  Secretary  of  State, 
Raleigh,  February  25th,   1903. 
I,   J.   Bryan   Grimes,    Secretary   of   State   of   the   State   of   North 
Carolina,  do  hereby  certify  the  foregoing  is  a   true  copy  from  the 
records  of  this  office. 

In  witness  whereof,  I  have  hereunto  set  my  hand  and  affixed  my 
official  seal. 

Done  in  office  at  Raleigh,  this  25th  day  of  February,  in  the  year 
of  our  Lord  1903. 

(Seal).  J.  Bryan  Grimes, 

Secretary  of  State. 


PROSPECTUS 


RALEIGH  AND  EASTERN  NORTH  CAROLINA 
RAILROAD  COMPANY. 


Raleigh,  N.  C,  April  2,  1903. 

In  presenting  the  facts  of  this  proposed  line  to  the  public  and  those 
interested  in  its  construction,  route,  etc.,  it  would  not  be  amiss  to 
state  that  the  road,  after  leaving  Raleigh,  will  run  through  the  middle 
east  half  of  Wake,  northern  portion  of  Johnston,  middle  of  Wilson 
and  Pitt  counties,  into  Beaufort  and  possibly  into  Hyde  county.  Prob- 
ably passing  through  or  near  Wakefield,  Wilson,  Farmville,  Greenville, 
Grimesland  and  Washington,  thence  possibly  into  Hyde  county  through 
or  near  Belhaven,  a  distance  of  about  160  miles.  Also  a  proposed 
branch  from  its  main  line,  about  10  miles  from  Wilson  to  Kinston, 
passing  through  or  near  Snow  Hill,  a  distance  of  about  35  miles.  Also 
a  proposed  branch  from  Raleigh  to  Durham,  a  distance  of  26  miles, 
making  a  total  mileage  of  about  221  miles.  It  being  understood  that 
the  main  line,  or  the  first  100  miles  constructed,  will  be  from  Raleigh 
to  Pamlico  river,  tide-water,  at  or  near  or  through  Washington,  N.  C. 
By  referring  to  the  charter  of  this  line,  not  more  than  $12,000  per  mile 
of  5  per  cent,  first  mortgage  bonds  can  be  issued,  provided  that  the 
counties,  townships,  cities  or  towns  subscribe  to  the  second  mortgage 
6  per  cent,  semi-annual  bonds  in  lieu  of  their  5  per  cent,  bonds,  and 
under  no  circumstances  can  there  be  issued  more  than  $3,000  of  second 
mortgage  bonds  per  mile  of  main  line.  It  is  not  anticipated  that  the 
counties,  cities  and  towns  will  subscribe  more  than  $2,000  per  mile 
of  main  line,  which  would  be  $200,000  between  Raleigh  and  Washington, 
100  miles.  Interest  on  same  at  5  per  cent,  would  be  $10,000.  By 
the  building  of  this  road,  it  being  assessed  at  about  $10,000  per  mile 
at  1  per  cent.,  would  be  $10,000,  equal  to  the  amount  of  interest  paid 
by  the  counties,  townships,  cities  or  towns  on  their  5  per  cent,  bonds 
issued  to  the  railroad  in  exchange  for  the  6  per  cent,  bonds  of  the 
railroad.  The  interest  on  these  6  per  cent  railroad  bonds  must  be 
paid  in  full  before  one  dollar  of  interest  is  paid  to  the  stockholders. 
It  would  not  be  unreasonable  to  imagine  that,  in  a  very  few  years, 
these  second  mortgage  bonds  should  be  worth  par,  or  more  valuable 
than    the    county    or    city    bonds    exchanged    for    them,    and    will    no 


doubt  (if  required)  pay  the  principal  or  could  be  easily  exchanged 
for  the  county  or  city  bonds  at  maturity.  It  must  be  conceded  that 
in  the  building  this  road  as  proposed,  a  large  portion  of  the  terri- 
tory it  traverses  must  be  greatly  enhanced  in  value,  as  a  large 
part  of  its  line  will  open  up  localities  not  now  conveniently  situ- 
ated for  transporting  their  products,  although  considerable  of  the 
territory  is  under  high  state  of  cultivation  and  will  greatly  enlarge 
their  production  as  soon  as  given  proper  transportation  facilities. 
Again,  the  middle  section  of  the  eastern  portion  of  North  Carolina, 
including  Greensboro,  Durham,  Raleigh,  Wilson  and  intermediate  points, 
will  average  over  100  miles  nearer  to  tide-water  than  by  any  other  line 
doing  an  export  or  coastwise  business  through  any  of  the  Virginia 
or  South  Atlantic  ports.  Taking  this  short  rail  line  to  tide-water 
as  a  basis  for  freight  traffic,  the  coastwise  rate  to  this  port  will  not 
be  over  ten  per  cent,  higher  than  to  the  Virginia  ports,  nor  more  than 
to  Wilmington  from  the  northern  port  cities,  and  with  the  present 
established  North  Carolina  Corporation  Commission  rates,  and  using 
continuous  mileage  instead  of  two  or  more  locals  when  going  over 
other  lines,  it  will  decrease  the  present  freight  rates  to  the  territory 
above  mentioned  at  least  twenty-five  per  cent.  This  would  save  to  the 
producers,  consumers,  North  Carolina  citizens,  annually  more  than  the 
interest  and  principal  of  all  bonds  possible  to  vote  under  this  charter 
and  act  of  the  General  Assembly  of  1903,  hence  it  would  be  a  first- 
class  business  proposition  for  North  Carolina  to  invest  in  and  not  even 
take  in  all  of  its  actual  benefits  derived  therefrom. 

Under  section  18  of  this  act  it  plainly  states  that  this  must  remain 
an  independent  line  so  long  as  any  of  the  counties,  townships,  cities 
or  towns  hold  seventy-five  per  cent,  of  the  second  mortgage  bonds  of 
said  railrod ;  therefore,  it  will  remain  with"  North  Carolina  authorities 
whether  they  desire  an  important  road  like  this  operated  as  a  sep- 
arate and  distinct  line,  or  be  merged  or  controlled  by  some  other  line. 
Congress  having  appropriated  a  sum  of  money  to  investigate  the  fea- 
sibility and  cost  of  making  an  inland  water-way  from  Norfolk,  Va., 
to  Beaufort,  N.  C,  for  the  largest  draught  vessels  so  as  to  avoid  the 
dangerous  coast  of  Cape  Hatteras  and  lessening  the  distance  from  any 
point  below  Beaufort,  N.  C,  to  and  beyond  Norfolk,  and  decreasing  the 
marine  insurance  rate,  it  could  not  well  be  calculated  the  great  benefit 
this  proposed  new  line  would  receive.  The  coal  traffic  alone,  in  fur- 
nishing passing  steamers,  would  be  revenue  sufficient  to  maintain  this 
line,  being  the  shortest  rail  line  to  tide-water  from  the  Pocahontas 
coal  fields  and  the  shortest  ocean  voyage  to  the  West  Indies,  Central 
and  South  America.  It  is  said  that  so  far  the  engineers  in  charge  of 
this  important  work  have  found  no  serious  obstacles,  but  on  the  other 
hand  the  project  could  be  put  through  in  a  comparatively  short  time 
und  with  small  expense,  considering  the  importance  and  the  work  to  be 


done.  There  are  large  deposits  of  stone  and  granite  along  the  line  of 
the  R.  &  E.  N.  C.  R.  R.,  which  is  available  and  inexpensive,  if  needed 
for  jetties,  dykes,  etc.,  in  connection  with 'this  important  inland  water- 
way. Every  nation  on  the  globe  owning  sea-going  vessels,  doing 
business  in  the  United  States  below  Norfolk,  is  extremely  interested  in 
and  looks  forward  to  the  day  when  this  ocean  thoroughfare  may  be  a 
reality.  There  are  about  200  miles  of  North  Carolina  coast  without 
a  sea-going  vessel  leaving  its  borders,  except  Wilmington;  in  fact,  that 
being  the  only  port  in  North  Carolina.  This  ought  not  to  be,  and  with 
plenty  cheap  rock  within  fifty  miles  of  Washington,  N.  C,  jetty  work 
in  Pamlico  River  and  Sound  and  Ocracoke  Inlet  could  be  done  at  the 
minimum  cost  and  should  be  done  by  the  State  of  North  Carolina 
if  not  by  the  United  States.  This  would  place  Washington,  Belhaven 
or  some  point  in  Hyde  county  on  a  parity  with  most  of  the  South 
Atlantic  poi'ts,  and  the  many  inlets  being  perfectly  safe  harbors  in 
case  of  storm.  It  will  place  Raleigh  and  WTilson  almost  at  tide-water, 
and  nearer  than  most  interior  cities  of  like  importance.  Without  the 
action  of  Congress  or  deepening  this  inland  channel,  or  direct  ocean 
line  through  Ocracoke  Inlet,  Washington  has  now  ample  depth  of 
water  for  ordinary  inland  channel  draught  vessels,  and  with  proper 
encouragement  for  tonnage  the  water  transportation  line  would  give 
ample  service  and  facilities  for  the  business  offered,  and  with  this 
almost  east  and  west  direct  railroad,  the  cities  and  country  through 
which  it  runs  must,  most  assuredly,  reap  considerable  benefit  thereby. 
On  the  other  hand,  if  this  road  should  be  extended  to  Belhaven,  a 
junction  with  the  Norfolk  and  Southern,  with  its  connection  over  the 
Washington  and  Plymouth  Railroad  to  Plymouth,  connecting  with  the 
Suffolk  and  Carolina  Railroad,  it  would  open  up  two  more  lines  to  the 
port  of  Norfolk,  and  would  be  less  than  fifty  miles  longer  than  the 
present  shortest  rail  line.  We  would  have  nearly  as  short  a  line  from 
Raleigh  to  Richmond,  via  Wilson  and  the  A.  C.  L.,  as  the  shortest  line 
now  exists,  and  think  it  possible  to  handle  Richmond  and  Raleigh 
business  via  this  route.  We  have  not  figured  this  into  our  revenue. 
We  have  guarantees  in  writing  from  business  men  of  Raleigh,  Wilson, 
Greenville  and  Washington  that,  everything  being  equal  in  freight 
rates,  and  practically  in  time,  they  will  order  their  freight  over  this 
line.  Norfolk  and  Richmond  being  the  natural  gate-ways  for  North 
Carolina  and  its  tributary  business,  a  line  running,  as  this  road  will, 
must  asuredly  control  a  large  tonnage,  opening  up  new  fields  of  com- 
merce and  not  necessarily  seriously  injuring  its  competitors. 

There  is  estimated  to  be  50,000  car-loads  of  lumber  between  Raleigh 
and  Wilson,  25,000  between  Wilson  and  Greenville  and  15,000  between 
Greenville  and  Washington,  total  90,000.  Estimating  this  at  one-half, 
45,000  cars,  at  $15  per  car  would  give  a  revenue  of  $675,000,  divided 
into   ten   years,   making   $67,000   per   annum.     A   very   small   estimate 


4 


of  three  thousand  cars  of  cord-wood  per  year  would  he  hauled  into  the 
four  cities  mentioned  above,  at  60  cents  per  cord,  ten  cords  to  the  car, 
$6  per  car,  or  $18,000  per  annum.  Unlike  many  sections  of  North 
Carolina  and  our  Southern  States,  a  large  proportion  of  this  land 
which  this  road  will  pass  through,  or  adjacent  to,  is  more  valuable  with 
the  timber  removed  than  the  timber  on  it,  being  fertile  and  adapted  to 
cotton,  and  particularly  to  tobacco  and  vegetable  culture.  No  estimate 
of  revenue  whatever  is  made  for  transporting  cotton  and  tobacco  from,  or 
fertilizers  and  provisions  into,  the  interior,  although  these  are  largely 
handled  at  the  following  stations  other  than  the  four  cities  named 
above  on  this  line:  Louisburg,  Henderson,  Youngsville,  Franklinton 
and  other  stations  on  the  west  boundary  of  the  S.  A.  L.  road;  Clayton, 
Selma  on  the  southern  boundary  on  Southern  Railway;  Rocky  Mount, 
Elm  City  on  the  east;  Springhope  and  Nashville  on  the  north  boun- 
dary on  A.  C.  L. 

With  the  exception  of  the  Louisburg  branch,  ten  miles  in  length,  and 
the  Springhope  branch,  nineteen  miles  in  length,  with  rather  inferior 
construction  and  not  extraordinary  good  service,  both  north  of  the 
Tar  river,  there  is  the  following  territory  without  railroad  facilities: 
Twenty-five  miles  square,  or  625  square  miles  between  Raleigh  and 
Wilson,  about  400  square  miles  between  Wilson  and  Greenville  without 
railroad  facilities,  except  on  the  extreme  boundaries;  east  of  Green- 
ville and  south  of  Tar  river  and  Washington  there  are  about  500  square 
miles  of  territory  without  a  railroad  except  on  the  extreme  boundary 
on  the  north,  south  and  west,  and  the  tide-water  on  the  east.  This 
would  give  us  a  territory  of  about  1,525  square  miles,  or  976,000 
acres  of  land  to  draw  some  of  our  tonnage  from  for  revenue.  It  would 
not  be  unreasonable  to  presume  that  one-half  of  this  territory  is  either 
under  cultivation  or  in  timber,  and  that  this  new  line  must  necessa- 
rily control  fifty  per  cent,  of  this  tonnage,  viz.,  488,000  acres,  and 
allowing  the  very  small  estimate  of  one-half  ton  production  of  timber, 
then  products  to  the  acre  would  give  us  244,000  tons,  at  the  extremely 
low  estimate  of  50  cents  per  ton  for  transportation,  would  be  $122,- 
000,  and  at  least  ought  to  be  added  to  our  estimate  of  revenue. 
There  are  large  quantities  of  undeveloped  granite  in  Wake,  Johnston 
and  Nash  counties,  and  without  the  proposed  R.  &  E.  N.  C.  R.  R.  this 
valuable  granite  will  remain  dormant,  while  on  the  other  hand  it 
can  be  made  a  very  valuable  enterprise  and  a  large  revenue  to  this 
railroad.  We  have  not  calculated,  so  far,  this  tonnage  as  a  source 
of  revenue  to  our  company. 


POSSIBLE  REVENUE  ESTIMATE,  BASED  UPON  ACTUAL  EARNINGS  OF  THE  RAIL- 
ROADS NOW  ENTERING  THE  FOUR  CITIES  BELOW  MENTIONED,  WHICH  THI8 
LINE    WILL   GO   TO,    THOUGH,    OR   NEAR. 


Raleigh — 
S.  A.  L.  proportion . 
Southern  Railway- - 


Wilson 

A.  C.  L.  proportion  ._. 

Greenville 

A.  C.  L.  proportion  ._. 


Washington — 

A.  C.  L.  proportion 

0.  D.  S.  S.  Co.  proportion- 
Express,  fish,  etc. 


Grand  total 


Inward 

Freight 
Revenue. 


200,  000 
75,  000 

200,000  j 
150,000  j 

100,000  I 
60,000 


100,  000 
40,  000 
60,  000 


Outward 

Freight 

Revenue. 


50,  000 

75,  000 

200,  000 
150,  000 

100,  000 
60,  000 


100,  000 
40,  000 
60,  000 


Total. 


250,  000 
150,  000 


500,  000 


120,  000 


200,  000 


$1,  020,  000 


Passenger  business  not  calculated  or  included  in  this  estimate. 
It  would  not  be  unreasonable  to  presume  that  this  new  line,  running 
from  Raleigh  through  Wilson,  Greenville  and  Washington  to  tide-water 
or  other  connection  with  Norfolk,  that  this  citizens'  line,  business 
men's  enterprise,  that  twenty-five  per  cent,  of  the  above  revenue  would 
not  accrue  to  it. 

Revenue  from  the  four  cities  above,  per  annum $250,000 

Revenue  from  lumber  and  timber,  per  annum 67,000 

Revenue  from  cord- wood,  per  annum 18,000 

Total   $335,000 

We  know  that  this  line  can  be  operated  for  sixty  per  cent,  of  its 
gross  earnings  (fuel,  being  the  largest  item  in  operation,  can  be  had 
for  $1  per  cord,  delivered  on  its  right  of  way),  would  be  $201,000 
for  operation,  leaving  $134,000  for  fixed  charges  and  interest  on  bonds. 
Interest  on  first  mortgage  bonds,  $60,000;  taxes,  $10,000;  interest  on 
second  mortgage  bonds,  $12,000;  total,  $82,000,  would  leave  $52,000 
to  pay  interest  on  common  stock,  purchase  additional  equipment 
if  needed,  make  permanent  improvements  and  betterments.  Our  figures 
are  inside  of  an  extremely  conservative  estimate  as  to  earnings, 
operating  expenses,  construction  and  equipment,  hence  we  do  not  know 
a  safer  or  better  investment  in  the  Southern  States.     Without  comment- 


G 


ing  upon  the  necessities  of  our  cities  and  country  that  this  line  will 
traverse,  we  will  simply  mention  one  or  two  points  that  our  people 
want  and  do  demand.  Better  transportation  facilities  between  our 
capital,  the  eastern  portion  of  our  State  and  between  the  territory, 
towns  and  cities  through  which  this  road  will  pass.  It  now  takes  about 
eight  hours  to  come  from  Washington,  Plymouth  and  Greenville  to 
Raleigh,  when  it  should  not  take  more  than  three  or  four  hours,  and  at 
nearly  one-half  the  cost.  It  takes  over  forty-eight  hours  from  the 
middle  of  Hyde  county  to  Raleigh;  it  will  not  consume  over  six  hours 
by  this  new  route.  Hence  comments  are  quite  unnecessary.  A  large 
portion  of  the  State  that  this  line  will  traverse  is  the  best  wooded, 
most  fertile,  thickly  populated,  and  easily  to  construct  a  railroad 
as  compared  with  any  portion  of  North  Carolina,  and  we  might  say 
of  any  of  our  Southern  States.  The  line  having  been  practically 
located  by  an  eminent  civil  engineer,  and  inspected  by  an  experienced 
operating  official,  who  rode  through  the  country  and  pronounced  the 
line  perfectly  feasible,  practicable  and  without  any  particular  incon- 
veniences of  construction  or  operation,  not  having  a  grade  over  one  per 
cent,  or  curves  of  over  four  degrees.  Does  not  cross  any  large  or 
navigable  streams,  except  at  Washington;  at  this  point  a  wagon  or 
county  bridge  is  maintained  with  perfect  safety,  as  foundation  is 
good  for  driving  piles. 

A  standard-gauge  road  is  now  projected  between  New  Bern  and  Wash- 
ington, and  from  Pamlico  county  to  Washington  they  will  run  through 
a  very  rich  and  fertile  country,  producing  early  produce  in  large 
quantities  for  Eastern  markets.  The  southern  terminus  of  the  Eastern 
Carolina  Railroad,  running  from  Tarboro  south,  will  connect  with 
our  line  at  its  southern  terminus.  These  three  connections  must  natu- 
rally contribute  something  towards  the  tonnage  of  our  line,  which  is  not 
included  in  our  revenue  estimate.  While  at  this  time  we  have  not 
contemplated  a  branch  from  our  main  line  to  Rocky  Mount,  still  this 
is  quite  feasible,  and  will  shorten  the  rail  line  between  Raleigh  and 
Norfolk  twenty  miles  and  be  the  shortest  line  between  these  two  points, 
and  no  doubt  we  would  get  some  business  into  and  out  of  Rocy  Mount. 

ESTIMATED  COST  OF  CONSTRUCTING  AND  EQUIPPING  THE  RALEIGH  AND 
EASTERN  NORTH  CAROLINA  RAILROAD  BETWEEN  RALEIGH  AND  WASHING- 
TON, N.  C,  ONE  HUNDRED  MILES  MAIN  LINE  AND  TEN  MILES  SIDE- 
TRACK   AND    TERMINAL    FACILITIES. 

Grading  main  line,  $2,500  per  mile $250,000 

60-lb.  steel  rails,  94*4  tons  per  mile,  9,400  tons,  at  $30  per  ton,  282,000 

Ties,  2,640  per  mile,  at  25  cents,  264,000,  size  7  by  8  by  9 66,000 

Angle-bars,  317  per  mile,  33-ft.  rail,  31,700  pairs,  at  60  cents 

per    pair 19,020 


"2  kegs  track  spikes  per  mile,  3,200  kegs,  at  $3.70  per  keg.  .  .  $  11,840 

7  kegs  holts  and  nuts  per  mile,  700  kegs,  at  $5.80  per  keg 4,000 

1.2G8  washers  per  mile,  126,800,  at  one-half  cent  each 634 

Labor  and  tools,  per  mile,  laying  track,  $250 25,000 

Labor  and  tools,  surfacing,  per  mile,  $175 17,500 

10    miles    of    sidings,    including    grading,    second-hand    50-11). 

released  steel  rails,   switch  fixtures,   switch   and  grade  ties 

and  labor,  $1  per  running  foot,  5,280  lineal  feet 52,800 

Bridging   Neuse    river 10,000 

Trestle  and  draw-bridge,  Washington,  1ST.   C 35,000 

Raleigh  right  of  way  and  ground  $30,000,  freight  depot  $4,000, 

passenger    depot    $2,500 36,500 

Wilson  right  of  way  $10,000,  freight  depot  $4,000,  passenger 

depot  $2,500   16,500 

Greenville  right  of  way  $5,000,  combined  depot  $4,000 9,000 

Washington  right  of  way  $10,000,  combined  depot  $4,000 14,000 

5   intermediate   stations   $500   each 2,500 

3  passenger  engines  $4,000  each,  second-hand  ,4  new  freight 
engines    $8,000    each 44,000 

100  new  flats  $400  each,  100  new  box-cars  $000  each 100,000 

8  coaches  $3,000  each,  4  new  baggage  cars  $2,000  each 32,000 

4  combination  baggage  and  passenger  coaches  $2,000  each .  .  .  8,000 
Estimating  for  current   expenses  during  construction   of  line 

for   one   year,   engineer    corps,    superintending,    etc 50,000 

Machine  and  car-shops,  tools  and  power 50,000 

4    water-tanks,    pumps,    etc 4,000 

Total    $1,140,354 

In  submitting  the  above  estimate,  actual  prices  and  cost  are  given 
when  possible  to  obtain  same,  such  as  rail,  ties,  angle-bars,  spikes,  cars, 
engines,  etc. 

It  would  not  be  necessary  to  at  first  build  or  purchase  the  200  cars, 
they  could  be  gotten  as  necessity  requires. 

Would  not  be  necesary  to  expend  $50,000  at  once  for  shops,  tools, 
etc. ;  could  be  erected  and  purchased  as  necessity  requires.  We  have 
allowed  considerable  amount  for  right  of  way  into  the  four  cities, 
which  may  be  reduced,  except  at  Raleigh.  It  is  also  possible  to  get 
along  with  less  than  ten  miles  of  side-track  for  the  present.  It  is. 
however,  essential  to  be  in  position  to  place  the  required  amount  of 
bonds  on  the  market  to  be  used,  if  found  necessary  in  the  construction 
and  equipping  of  this  property.  The  bonds  will  not  be  issued  or  sold 
except  as  the  road  progresses,  and  only  to  the  amount  actually  re- 
quired. 

Dr.  Emmons  remarks  that  the  swamp  soils  of  Eastern  North  Carolina 
show  a  greater  capacity  for  endurance  than  the  prairie  soils  of  Illinois, 


Microfilmed 
SOLINET/ASERL  PROJECT 


notwith standing  the  annual  crops  are  less  per  acre;  and  on  the  score 
of  location,  he  is  unable  to  see  that  Illinois  soils  have  the  preference. 

Mr.  Edward  Ruffin  of  Virginia,  who  studied  Eastern  North  Carolina 
section  with  care,,  expressed  high  appreciation  of  the  tide-water  region 
for  the  cultivation  of  grasses,  and  states  there  is  no  better  country  east 
of  the  Rocky  Mountains. 

It  is  claimed  Hyde  county  could  raise  as  much  produce  as  is  raised 
near  New  Bern,  Norfolk  and  Wilmington  all  together,  and  capable  of 
competing  with  Kalamazoo,  Mich.,  in  raising  celery  in  quality  and 
quantity.  What  is  said  of  Hyde  county  can  be  said  of  other  counties 
and  cities  along  this  road,  in  the  same  proportion  as  to  the  present 
transporting  facilities.  As  an  example,  most  all,  if  not  all,  the  cotton 
grown  in  the  extreme  eastern  part  of  North  Carolina  north  of  Neuse 
river  goes  to  Norfolk,  when  it  is  a  fact  that  Raleigh  and  other  cities 
near  by  having  cotton  factories  pay  invariably  *4  cent  per  pound  more 
than  Norfolk,  and  with  the  proposed  new  short  line  the  rates  would 
be  very  little  different,  giving  the  producers  considerably  more  money 
for  their  cotton  than  they  are  getting  now.  Being  the  shortest  line 
from  Wilson,  Greenville  and  Washington  to  Durham,  Greensboro  and 
Winston-Salem,  rate  on  tobacco  must  be  less,  on  account  of  distance, 
also  by  using  one  total  continuous  mileage  instead  of  as  at  present  two 
local  rates. 

Since  1880  the  productions  of  the  entire  United  States  have  in- 
creased 220  per  cent.,  the  Southern  States  349  per  cent.,  and  the  rail- 
road mileage  about  25  per  cent.,  hence  it  would  appear  that  the  trans- 
porting facilities  have  not  kept  pace  with  the  producing  power,  at 
least  in  the  Southern  States,  and  particularly  in  North  Carolina,  there 
being  ample  room  for  more  railroads  when  located  as  this  one,  opening 
up  a  new  and  fertile  territory  and  at  the  same  time  bringing  our  pro- 
ducers, consumers  and  manufacturers  in  a  closer  touch  with  each  other. 

It  has  not  been  the  policy  for  many  years  for  trunk  lines  to  build 
new  roads  or  to  extend  their  present  lines,  except  to  connect  disjointed 
lines  of  their  own,  hence  we  must  look  for  further  rail  development  to 
our  smaller  and  independent  roads,  and  unless  they  receive  encourage- 
ment and  substantial  aid  from  its  citizens,  counties,  townships,  cities 
and  towns  these  roads  will  never  be  built. 

ANNUAL   FISH   PRODUCTION   ON   THE    ALBEMARLE    SOUND. 

Herring 150,000,000 

Shad 5,500,000 

Perch (    300,000 

Sturgeon 10,000 

Striped  Bass 50,000  pounds. 


Countv. 


Wake 

Johnston  -- 
Franklin  — 

Wilson 

Nash 

Greene 

Edgecombe 

Pitt 

Beaufort — 


54,  626 
32,  250 
25,  116 
23,  596 

25,  473 
12,  038 

26,  591 
30,  889 
26,  404 


Cities. 

Raleigh !  13,643 

Wilson j  3,  535 

Greenville 2,  565 

Washington 4,  842 


Property 
Listed. 


12,  000,  000 
4, 000,  000 

3,  000,  000 

4,  000,  000 
3,  900,  000 
1,  500,  000 
3,  900,  000 
3,  600,  000 
3,  300,  000 


Debt, 


$47,  000 

14, 000 
12,000 


256,983    39,200,000 


3,000 
12,  000 


19, 000 


Square 
Miles. 


5,800 


4,700,000  375,000 

2,000,000  116,000 

815,000  I 

1,200,000  I  15,000 


Not 

given. 

do. 


State  and  county  tax,  $1.02f  per  $100. 

Incorporators: 

J.  J.  Thomas, 
C.  B.  Barbee, 
J.  M.  Turner. 


JOHN  M.   TURNER. 


KENTUCKEY 


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UNIVERSITY  OF  N.C.  AT  CHAPEL  HILL 


00042093689 


FOR  USE  ONLY  IN 
THE  NORTH  CAROLINA  COLLECTION 


UNCPS  54368 


